South Africa iron ore export shipments up 28% in Aug on increased Chinese buying

South African iron ore export shipments in Aug'20 witnessed 28% increase on a monthly basis to 5.56 mn t, against 4.34 mn t in July'20, according to bulk vessel line up data maintained with SteelMint.

South African export shipments to China up 31% in Aug'20

South Africa's total iron ore export to China for the month of Aug'20 recorded at 3.57 mn t, up 31% as compared to 2.73 mn t in July'20. Netherland stood second largest at 0.51 mn t followed by Korea at 0.33 mn t. Chinese steel remained active in booking high-grade ore (lump & pellets) owing to pollution control curbs imposed in Tangshan.

South African export shipments to India continue to remain nil

The total iron ore exports to India for the month continued to remain nil for the fifth consecutive month. Exports in the month of Mar'20 were at 0.11 mn t.

SteelMint's assessment of South African imported lumps to India currently stands at $ 133-136/t, CNF Kandla as against $ 123-127/t, a month ago. As per market sources report to SteelMint, the prices for imported lumps are not viable due to high global prices and hence, booking for imported lumps have remained on the lower side. Port based plants are using domestic iron ore, pellets or scrap as their raw material feed.

South Africa iron ore export shipment line up

Qty in mn t
Source: SteelMint, Custom
Provisional Data